Permian Resources Correlations

PR Stock

USD 16.53 0.65 3.78%

The current 90-days correlation between Permian Resources and Range Resources Corp is 0.55 (i.e., Very weak diversification). The correlation of Permian Resources is a statistical measure of how it moves in relation to other instruments. This measure is expressed in what is known as the correlation coefficient, which ranges between -1 and +1. A correlation greater than 0.8 is generally described as strong, whereas a correlation less than 0.5 is generally considered weak. If the correlation is 0, the equities are not correlated; they are entirely random.

Permian Resources Correlation With Market

Poor diversification

The correlation between Permian Resources and DJI is 0.62 (i.e., Poor diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Permian Resources and DJI in the same portfolio, assuming nothing else is changed.

Build AI portfolio with Permian Stock

Check out Your Equity Center to better understand how to build diversified portfolios, which includes a position in Permian Resources. Also, note that the market value of any company could be closely tied with the direction of predictive economic indicators such as signals in real.

To learn how to invest in Permian Stock, please use our How to Invest in Permian Resources guide.

Moving together with Permian Stock

0.94	FANG	Diamondback Energy	Pair Corr
0.93	CNQ	Canadian Natural Res	Pair Corr
0.89	COP	ConocoPhillips	Pair Corr
0.78	EOG	EOG Resources	Pair Corr
0.88	INR	Infinity Natural Res	Pair Corr
0.74	WTI	WT Offshore Buyout Trend	Pair Corr
0.87	IPO	InPlay Oil Corp	Pair Corr
0.82	MBFJF	Mitsubishi UFJ Financial Normal Trading	Pair Corr
0.91	JPSTF	JAPAN POST BANK Earnings Call Tomorrow	Pair Corr
0.84	MZHOF	Mizuho Financial Normal Trading	Pair Corr
0.68	RCKY	Rocky Brands	Pair Corr
0.88	OBYCF	Obayashi	Pair Corr
0.65	FIBK	First Interstate Ban	Pair Corr
0.62	BNKHF	BOC Hong Kong	Pair Corr
0.7	YLLXF	Yellow Cake plc	Pair Corr

Moving against Permian Stock

0.75	PBCRY	Bank Central Asia	Pair Corr
0.51	DEC	Diversified Energy	Pair Corr
0.35	DEC	Diversified Energy	Pair Corr
0.34	PCI	Perpetual Credit Income Earnings Call This Week	Pair Corr
0.46	IVVD	Invivyd	Pair Corr
0.44	NVNIW	Nvni Group Limited	Pair Corr
0.4	BROGF	BROGF	Pair Corr

Related Correlations Analysis

	RRC	APA	OVV	AR	AM	HESM	VIST	MTDR	DINO	NFG
RRC		0.05	0.16	0.71	0.15	-0.31	0.25	0.0	0.47	0.05	RRC
APA	0.05		0.91	0.31	0.83	0.79	0.73	0.93	0.41	0.77	APA
OVV	0.16	0.91		0.32	0.92	0.79	0.82	0.89	0.58	0.85	OVV
AR	0.71	0.31	0.32		0.34	0.08	0.34	0.38	0.09	0.34	AR
AM	0.15	0.83	0.92	0.34		0.81	0.81	0.81	0.53	0.85	AM
HESM	-0.31	0.79	0.79	0.08	0.81		0.66	0.79	0.16	0.79	HESM
VIST	0.25	0.73	0.82	0.34	0.81	0.66		0.65	0.46	0.75	VIST
MTDR	0.0	0.93	0.89	0.38	0.81	0.79	0.65		0.29	0.83	MTDR
DINO	0.47	0.41	0.58	0.09	0.53	0.16	0.46	0.29		0.32	DINO
NFG	0.05	0.77	0.85	0.34	0.85	0.79	0.75	0.83	0.32		NFG
	RRC	APA	OVV	AR	AM	HESM	VIST	MTDR	DINO	NFG

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Correlation Matchups

Over a given time period, the two securities move together when the Correlation Coefficient is positive. Conversely, the two assets move in opposite directions when the Correlation Coefficient is negative. Determining your positions' relationship to each other is valuable for analyzing and projecting your portfolio's future expected return and risk.

High positive correlations

MTDR	+ 0.93	APA
AM	+ 0.92	OVV
OVV	+ 0.91	APA
MTDR	+ 0.89	OVV
NFG	+ 0.85	OVV
NFG	+ 0.85	AM

High negative correlations

HESM	- 0.31	RRC
MTDR	- 0.0	RRC

Risk-Adjusted Indicators

There is a big difference between Permian Stock performing well and Permian Resources Company doing well as a business compared to the competition. There are so many exceptions to the norm that investors cannot definitively determine what's good or bad unless they analyze Permian Resources' multiple risk-adjusted performance indicators across the competitive landscape. These indicators are quantitative in nature and help investors forecast volatility and risk-adjusted expected returns across various positions.

	Mean Deviation	Jensen Alpha	Sortino Ratio	Treynor Ratio	Semi Deviation	Expected Shortfall	Potential Upside	Value @Risk	Maximum Drawdown
RRC	1.61	(0.01)	(0.04)	0.00	2.25	(1.53)	3.08	(3.01)	11.21
APA	2.00	0.26	0.09	0.69	2.15	(2.19)	3.77	(3.50)	11.75
OVV	1.76	0.37	0.14	1.90	1.85	(2.05)	3.86	(3.04)	8.85
AR	2.00	0.12	0.01	1.47	2.48	(2.02)	3.88	(3.89)	12.45
AM	0.88	0.28	0.13	(8.62)	0.96	(0.92)	2.50	(1.86)	5.96
HESM	0.94	0.14	0.05	0.76	0.97	(0.99)	1.89	(1.78)	5.02
VIST	1.97	0.19	0.05	0.42	2.68	(1.92)	4.21	(4.38)	13.64
MTDR	1.84	0.38	0.14	1.46	1.97	(2.04)	3.73	(3.47)	9.76
DINO	1.55	0.12	0.04	0.38	1.50	(1.87)	4.03	(2.57)	7.95
NFG	0.81	0.13	0.04	1.11	0.85	(0.88)	1.72	(1.42)	5.52

Permian Resources Corporate Management

Charles Osborn	VP Officer	Profile
Jamie Wheat	VP Accounting	Profile
Casey McCain	Senior Operations	Profile
Will Ellison	Vice Midstream	Profile
John JD	Executive Counsel	Profile
James Walter	Director CoCEO	Profile
Ryan Gitomer	Senior Finance	Profile

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